Copa (NYSE:CPA) Price Target Raised to $155.00

Copa (NYSE:CPA) had its price target hoisted by Raymond James from $152.00 to $155.00 in a research note issued to investors on Friday, Benzinga reports. Raymond James currently has a strong-buy rating on the transportation company’s stock.

Several other research firms have also commented on CPA. StockNews.com began coverage on shares of Copa in a report on Thursday, October 5th. They set a hold rating on the stock. TD Cowen reduced their target price on shares of Copa from $130.00 to $125.00 and set an outperform rating on the stock in a report on Friday, August 11th. TheStreet cut shares of Copa from a b- rating to a c+ rating in a research report on Wednesday, November 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Copa from $160.00 to $170.00 in a research report on Monday, September 18th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average target price of $135.89.

Copa Price Performance

CPA stock opened at $94.60 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.68 and a current ratio of 0.74. Copa has a 52 week low of $78.12 and a 52 week high of $121.20. The firm’s fifty day moving average is $87.30 and its 200 day moving average is $100.09. The firm has a market cap of $3.73 billion, a P/E ratio of 9.04, a P/E/G ratio of 0.33 and a beta of 1.37.

Copa (NYSE:CPA) last released its earnings results on Thursday, November 16th. The transportation company reported $4.39 EPS for the quarter, beating the consensus estimate of $3.62 by $0.77. Copa had a net margin of 12.07% and a return on equity of 42.85%. The company had revenue of $867.71 million for the quarter, compared to analyst estimates of $870.57 million. During the same quarter last year, the firm earned $2.91 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts predict that Copa will post 14.52 earnings per share for the current year.

Copa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a $0.82 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $3.28 annualized dividend and a dividend yield of 3.47%. Copa’s dividend payout ratio is 31.36%.

Institutional Investors Weigh In On Copa

Several institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Copa by 2.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,925 shares of the transportation company’s stock worth $362,000 after purchasing an additional 110 shares during the period. PDT Partners LLC lifted its position in shares of Copa by 0.3% in the 2nd quarter. PDT Partners LLC now owns 39,461 shares of the transportation company’s stock worth $4,364,000 after purchasing an additional 112 shares during the period. Gardner Lewis Asset Management L P lifted its position in shares of Copa by 0.6% in the 1st quarter. Gardner Lewis Asset Management L P now owns 19,542 shares of the transportation company’s stock worth $1,805,000 after purchasing an additional 115 shares during the period. Credit Agricole S A lifted its position in shares of Copa by 1.4% in the 2nd quarter. Credit Agricole S A now owns 9,370 shares of the transportation company’s stock worth $1,036,000 after purchasing an additional 131 shares during the period. Finally, Huntington National Bank lifted its position in shares of Copa by 54.6% in the 2nd quarter. Huntington National Bank now owns 388 shares of the transportation company’s stock worth $43,000 after purchasing an additional 137 shares during the period. 81.94% of the stock is owned by hedge funds and other institutional investors.

About Copa

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2022, it operated a fleet of 97 aircraft comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation aircraft, 1 Boeing 737-800 Boeing Converted Freighter, and 20 737-MAX aircraft.